Greg Connolly

As the cannabis industry matures, we are starting to get reliable data. This can help make decisions based on real sales figures and not predictions. 10 years ago, there was only one state with adult use sales (#colorado) and a handful of states with medical seals. Now there is 24 sates with adult use sales and an additional 15 states with medical seals. At the moment #california leads with total seals but #michigan leads with per capita seals. #florida leads in medical seals. #missouri with a relatively small population and only 17 months since they launched their adult-use market, is already in fifth place. Thank you Debra Borchardt from Green Market Report for the financial update. #cannabisindustry #cannabiscommunity #cannabisnews #cannabiseducation #cannabispolicy #cannbislaw https://lnkd.in/gc96gcCh

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Thank you @cbssacramento SACRAMENTO - Amsterdam-style cannabis cafes are being legalized in California, as part of the many new state laws going into effect in 2025. San Francisco and West Hollywood already have cannabis consumption lounges, but this law will allow them to start serving food and non-alcoholic drinks plus bring in live entertainment. Right now, Sacramento has plenty of dispensaries, but it does not have any lounges where you can smoke inside. The change in law is an opportunity for marijuana businesses to capitalize, creating what they hope will be a safe and social smoking space. "It's something brand new here in Sacramento," said CEO of Crystal Nugs on J St. in Midtown Sacramento Maisha Bahati. She has been preparing to diversify her dispensary with the creation of a lounge space. "You're going to have a bar, it's going to have booths," said Bahati. "We're going to have a stage because you are going to be able to get an entertainment license." The Sacramento City Council approved a pilot program for cannabis consumption lounges in November. The new California law, also known as Assembly Bill 1775, legalizes Amsterdam-style cannabis cafes, allowing lounges to also sell food, non-alcoholic drinks and enjoy live entertainment. Bahati is working on creating a state-of-the-art ventilation system that can literally clear the air. She also has plans for two VIP rooms in hopes to welcome celebrities visiting California's capital. Even though the new law goes into effect Jan. 1, Bahati said it could still take another year to year-and-a-half before the first cannabis cafe is opened in Sacramento. That is because city council and businesses still need to lay out all the details and get licensed to serve food and have entertainment. Other locations across the state that have existing lounges, may start serving food sooner.

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While other vertical farming companies have shut down, Oishii bucks the trend by focusing on taste, closing $150 million from Bloom8 Miyako Capital and several others. Oishii is best known for its strawberries, which the company has slowly but steadily expanded access to over the last few years via Whole Foods Market. As of now, berries are available predominately in the northeastern and mid-Atlantic US states, though Oishii just expanded to Chicago this month. Their success could be a signal for a second wave of vertical farming startups. Nutrition Capital Network

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🌟 Exciting News from Sluggers 🌟 We’re thrilled to announce that we are actively seeking licensed manufacturers across the country to partner with us and bring the hottest brand in California to your state! Visit hitsluggers.com to learn more about our collectible cannabis products that are taking the market by storm. As we approach becoming the top brand in CA, our full lineup includes premium pre-rolls, vapes, rosin, and more. When you partner with Hit Sluggers, you’re not just getting an incredible product; you’re collaborating with one of California’s largest manufacturers and cultivators Natura (Natura Life Science) Why Partner with Us? 🔹 Proven Success: We understand both sides of the business and know how to ensure profitability. 🔹 Dynamic Brand: We are set to launch the most dynamic, sports-related cannabis brand nationwide. 🔹 Comprehensive Support: Benefit from our expertise in packaging, products, marketing, sales, and operations. 🔹 Quality and Control: We’re looking for partners with a robust supply chain to maintain high standards and increase profit margins and volume. We’ve received tremendous interest and are eager to find the right partners to expand our reach. If you’re ready to elevate your offerings with a top-tier cannabis brand, let’s connect! #HitSluggers #CannabisIndustry #PartnershipOpportunities #NaturalLifeScience #CannabisBrand #Manufacturing #LicensingOpportunity #CannabisCommunity Tag the license operator you want to see bring Hit Sluggers to your state! Let’s make history together! 🚀

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🌿 Despite #high hopes, the #cannabis industry has faced significant challenges. Turns out, it's not as #dope as investors toked it'd be. 📉 The leading player, Curaleaf, saw its value drop from a peak of 💲11.5B in 2021 to 💲4B today, highlighting the downturn in #marijuana stocks. The #market: 💰 Total U.S. Cannabis Market (legal + illegal) is valued at 💲75B, while the the legal US TAM, currently 💲32B, expected to grow to 💲43B by 2027 (source: BDSA) 🗽Just the New York state TAM is a hefty $6 billion cannabis market (and if you've strolled through NYC lately, you'll know it's not just the hot dog vendors adding to the aroma). 🌿 🍺 In comparison, the U.S. #Alcohol Market was valued at $247B in 2021, with the beer market alone at $115 billion, a stark 8x times cannabis TAM. 💼 Diageo, the leader in the spirits market boasts a 💲76B market cap, 💲21B in revenue and over 💲4B in net income. AB InBev, the leader in beer, commands a 💲120B market cap, 💲60B revenue and 💲5B net income. Some analysts believe that if a cannabis leader emerges, it might eventually reach similar figures. A long way to go for Curaleaf and others... 🌍 Besides the US and Canada there's potential in Europe with countries like Germany, Poland, and the UK that loosening cannabis regulations. More are expected to come. The #issues: 💸 Profitability hurdles include prohibitive taxes, with cannabis businesses unable to deduct common expenses, resulting in significant tax burdens despite losses in net income. 🤝 Fragmentation plagues the industry, with no player holding substantial market share, signaling a potential need for consolidation through mergers. 📊 Data on major companies: 📈 Revenue (2023) Curaleaf - $1.35B Trulieve - $1.22B Green Thumb Industries (GTI) - $1.02B Verano - $879M Cresco Labs - $825M 💹 Gross Margin (2023): Trulieve Cannabis Corp. - 52% Verano Holdings - 51% Green Thumb Industries Inc. - 49% Cresco Labs Inc. - 48% Curaleaf Holdings, Inc. - 45% 💼 EBITDA (2023): Green Thumb Industries Inc. - $291M Verano Holdings - $284M Trulieve Cannabis Corp. - $263M Curaleaf Holdings, Inc. - $239M Cresco Labs Inc. - $125M 👥 Total Employees: Curaleaf Holdings, Inc. - 5,650 Trulieve Cannabis Corp. - 5,400 Green Thumb Industries Inc. - 4,561 Verano Holdings - 3,900 Cresco Labs Inc. - 2,760 💼 Market Cap (may 3rd 2024): Curaleaf Holdings, Inc. - $4.17B Green Thumb Industries Inc. - $3.13B Trulieve Cannabis Corp. - $2.33B Verano Holdings - $1.75B Cresco Labs Inc. - $1B Fast forward a decade, where do you envision the cannabis industry? Do you anticipate pharmaceutical companies making their mark in the cannabis market? Could tobacco or alcohol giants venture into cannabis diversification?

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My ten predictions for 2025 are now out! 2024 was a crazy year. Cantrip ended 2023 with 4 distributors, doing outreach to craft and macro distributors across the US. We end 2024 with three dozen distributors, and several per month reaching out. We saw multiple MSO's enter the hemp-derived beverage space. We saw THC drinks traded on the NASDAQ. We saw bans and un-bans, regulators raiding VFW's in MO, judges deciding bans were illegal in some states, and judges upholding bans in others. We saw the market explode with new categories and brands, from Seth Rogen to that guy from Bravo. What's up for next year? See what I think below. 👇 What do you think will happen in 2025? #2025 #hemp #cannabis #beverage #thcdrinks #happynewyear

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Holy sh*t! David has done it again! As someone who has inspired many founders and capital into Agtech in the past decade, his latest technology has huge implications for food security, quality, and climate change mitigation. If you're interested in learning more, check out the 10-minute video at the end of the article . Its worth the watch! #Agtech #FoodSecurity #ClimateChangeMitigation https://lnkd.in/eh-xynSD

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If you are a retail dispensary operator or brand in Montana, shoot me a DM, this data is available to you through Tella's newest Market Intelligence Platform. More states coming soon! #MontanaCannabisCommunity #CannabisRetail #BusinessIntelligence

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Hey #cannabisindustry, The WeedWeek newsletter is up! -- Pesticide questions pile up in California Link and lots more in the comments

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When we asked CPG founders who they wanted at Founderland... Their answer was clear: People who can help them grow their business & achieve their goals. Specifically: - The top retailers - The most founder-friendly investors, and - Other founders they can learn from and share with This conversation that I'm hosting at Founderland is a perfect representation of this group, plus one BIG bonus. We're also including Joel Toledano and ChargeUp.ai which is one of my favorite tech companies that is supporting consumer brands today. They automate the retail deduction and chargeback process for brands, saving them an insane amount of time and money. Such a cool co. Excited to teach, share and connect...and get some deals done, while of course having lots of fun. Joel Toledano Jen Zeszut Kim Coffin Deb Conklin

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Seattle's first-ever venture conference devoted to Consumer and CPG ​This Launchpad Expo event is a reflection of the sea change that has occurred in this sector, in the Pacific Northwest region. An estimated 20% of angel investments have gone into Consumer and CPG companies in the past year, marking the first time that this sector has been placed "on the map" for locally-based investors. While Seattle is still dominated by tech, aerospace, and life sciences, Consumer has come into its own. https://lnkd.in/g-za9emz

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Want to see behind the scenes of Alibi? Check out this fabulous article with some great photos and insights into how we have continued to thrive in the tough Oregon market. 7 years in and we continue to learn and improve. Don't you need an Alibi?

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WHY RETAILERS ARE THE WELTHIES PEOPLE IN THE WORLD? … 2.8 trillion USD turnover with contribution in high marginal part of ~24% or 662 billion of Private Label Manufacturing (write your insight for founders in comments) … Let’s brake it down below 👇 1. Walmart Turnover $572.8B CEO Doug McMillon High margins from private labels (~25% of sales). #GreatValue #Equate #Mainstays 2. Amazon Turnover $469.8B CEO Andy Jassy AWS contributes ~60% of operating income; private labels boost profits. #AmazonBasics #Solimo 3. Costco Wholesale Turnover $226.9B CEO W. Craig Jelinek. 70% of profit from membership fees; Kirkland drives sales. #KirklandSignature 4. Schwarz Group Turnover $140B CEO Gerd Chrzanowski. Lidl's private labels are 80% of products, increasing margins. #Lidl #Kaufland #Deluxe 5. Kroger Turnover $137.9B CEO Rodney McMullen Private brands account for 30% of sales. #SimpleTruth #PrivateSelection 6. Walgreens Boots Alliance Turnover $132.5B CEO Rosalind Brewer . Own brands enhance margins significantly. #Nice #Boots #No7 7. Alibaba Group Turnover $109.5B CEO Daniel Zhang. Cloud revenue up 50%; private labels growing. #TmallCollection 8. The Home Depot Turnover $151.2B CEO Ted Decker Private brands like Husky boost margins. #Husky #GlacierBay 9. ALDI USA Turnover $106.3B CEO Jason Hart (Aldi US). 90% of products are private label, enhancing profits. #AldiBrand 10. Tesco Turnover $74.7B CEO Ken Murphy. Own brands make up 50% of sales volume. #TescoFinest #FandF 11. Carrefour Turnover $80.7B CEO Alexandre Bompard Private labels represent 25% of sales. #CarrefourBio #RefletsdeFrance 12. JD.COM Turnover $114.3B CEO Lei Xu (徐雷) Logistics and private labels increase margins. #JingZao 13. Target Turnover $106B CEO Brian Cornell. 33% of sales from exclusive brands. #UpandUp #CatandJack 14. CVS Health Turnover $292.1B CEO Karen S. Lynch Own brands and health services boost profits. #CVSHealth #GoldEmblem 15. Aeon Turnover $83B CEO Akio Yoshida. Private brands contribute 15% to sales. #Topvalu #HomeCoordy

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#ObsessivelyEnthusiasticInvestor at REFASHIOND Ventures: The Industrial Transformation Fund OUR INVESTMENT THESIS: REFASHIOND Ventures: The Industrial Transformation Fund invests in early stage startups refashioning legacy industries through Data & AI, Advanced Materials, Advanced Manufacturing, & Next Generation Supply Chains; Defensible through economic moats. #IndustrialTransformation #SupplyChain #Innovation #Technology #Startups #VentureCapital

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